Canopy Partners LLC Increases Position in Autodesk, Inc. $ADSK

Canopy Partners LLC lifted its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 80.8% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,602 shares of the software company’s stock after buying an additional 716 shares during the period. Canopy Partners LLC’s holdings in Autodesk were worth $496,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of ADSK. Brighton Jones LLC boosted its position in Autodesk by 14.5% in the fourth quarter. Brighton Jones LLC now owns 1,162 shares of the software company’s stock worth $343,000 after purchasing an additional 147 shares during the last quarter. Park Avenue Securities LLC boosted its holdings in shares of Autodesk by 1.7% in the 1st quarter. Park Avenue Securities LLC now owns 4,191 shares of the software company’s stock worth $1,097,000 after buying an additional 71 shares during the last quarter. Range Financial Group LLC boosted its stake in Autodesk by 8.6% in the first quarter. Range Financial Group LLC now owns 1,014 shares of the software company’s stock valued at $265,000 after acquiring an additional 80 shares during the last quarter. Pallas Capital Advisors LLC purchased a new position in Autodesk in the first quarter valued at about $898,000. Finally, Yousif Capital Management LLC boosted its stake in Autodesk by 0.5% in the first quarter. Yousif Capital Management LLC now owns 26,112 shares of the software company’s stock valued at $6,836,000 after acquiring an additional 125 shares during the last quarter. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Insiders Place Their Bets

In other news, Director Ayanna Howard sold 917 shares of the firm’s stock in a transaction on Monday, September 29th. The shares were sold at an average price of $325.00, for a total transaction of $298,025.00. Following the sale, the director owned 3,476 shares in the company, valued at approximately $1,129,700. This trade represents a 20.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Ruth Ann Keene sold 2,761 shares of the firm’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $315.10, for a total value of $869,991.10. Following the sale, the executive vice president owned 80,255 shares in the company, valued at $25,288,350.50. The trade was a 3.33% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,386 shares of company stock worth $11,433,201. 0.15% of the stock is currently owned by insiders.

Autodesk Stock Performance

NASDAQ ADSK opened at $314.19 on Wednesday. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.76 and a quick ratio of 0.76. Autodesk, Inc. has a 1 year low of $232.67 and a 1 year high of $329.09. The stock has a market capitalization of $66.92 billion, a PE ratio of 65.05, a P/E/G ratio of 2.87 and a beta of 1.49. The company’s 50 day simple moving average is $307.90 and its two-hundred day simple moving average is $293.57.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on ADSK shares. Stifel Nicolaus upped their price objective on Autodesk from $350.00 to $375.00 and gave the company a “buy” rating in a research note on Friday, August 29th. Bank of America upped their price target on Autodesk from $330.00 to $360.00 and gave the company a “neutral” rating in a research report on Friday, August 29th. Hsbc Global Res raised shares of Autodesk from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 1st. Loop Capital initiated coverage on shares of Autodesk in a report on Monday, July 21st. They set a “hold” rating and a $320.00 price objective on the stock. Finally, Robert W. Baird upped their price target on shares of Autodesk from $345.00 to $363.00 and gave the company an “outperform” rating in a research note on Friday, August 29th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $359.13.

About Autodesk

Autodesk, Inc provides 3D design, engineering, and entertainment technology solutions worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; BuildingConnected, a SaaS preconstruction solution; AutoCAD, a software for professional design, drafting, detailing, and visualization; AutoCAD LT, a drafting and detailing software; computer-aided manufacturing (CAM) software for computer numeric control machining, inspection, and modelling for manufacturing; Fusion 360, a 3D CAD, CAM, and computer-aided engineering tool; and Industry Collections tools for professionals in architecture, engineering and construction, product design and manufacturing, and media and entertainment collection industries.